According to BusinessMirror, the Bangko Sentral ng Pilipinas (BSP) warns crypto users not to transact with unauthorized virtual asset service providers (VASPs), stating that related platforms may pose risks such as scams, security vulnerabilities, cyberattacks, bankruptcy, mishandling of private keys, and lack of legal remedies. BSP stated that it will continue to collaborate with agencies such as the Philippine SEC and the National Telecommunications Commission (NTC) to restrict Filipino users from accessing unauthorized VASP platforms.

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